TVS Sricharka surges 32% in 4 days after announcing Rs 1,000 cr capex plan

The company said it is not a party to memorandum of family arrangement executed on December 10, 2020 between members of the TVS Family in order to record the terms of the family arrangement.

Shares of TVS Srichakra continued to rally on Friday. The stock hit a fresh 52-week high of Rs 2,130, up 20 per cent on the BSE in intra-day trade. The stock of the auto tyres and rubber products company surged 32 per cent in past four trading days after the company on Tuesday announced its capital expenditure plan of Rs 1,000 crore to ramp up manufacturing in its Madurai and Pantnagar plants.

The company, a leading Indian manufacturer of 2 and 3 wheeler and off-highway tyres, said the investment is planned to be made over a three-year period. "The investment,